Karnataka polls: With few odds to beat, election betting thrives

Not just in the form of money, bets are also being placed with agricultural land and cattle in rural areas.

Image used for representational purpose.

BENGALURU/RAICHUR : While the contestants who fought the state assembly election are anxiously waiting for the results, many across the state are on the edge because they have placed substantial bets on poll results. While the Satta Bazaar is thriving in the state, the police agencies are helpless as gambling is not conducted by organised syndicates. It is learnt that betting over election results is happening in almost every constituency in the state. Constituencies that are expected to witness a high-voltage fight are drawing huge stakes. Not just in the form of money, bets are also being placed with agricultural land and cattle in rural areas.

For instance, Chief Minister Siddaramaiah’s hometurf, Chamundeshwari constituency, is one of the favourite choices of gamblers. The constituency is expected to see and a neck-and-neck fight between the CM and JD(S) strongman G T Devegowda. Punters, not only from the Mysuru region but also from across the state, have reportedly placed high-stakes that are unparalleled to those placed in any other assembly constituency in the state. Starting from a few thousands of rupees, bets are also being placed for lakhs.

“People are betting even on the number of votes the runner-up will get. They have bet in the ratio of 1:5 on the result of both candidates. The betting is a common pastime for many of my friends. I have bet `50,000 but don’t want to reveal on whom,” said a voter in the constituency.In Raichur, a video of man holding bundles of `500 and `2,000 and engaging in betting has gone viral in social messaging apps. Going by the conversation in video, this betting was held for Lingasugur assembly segment candidates - Manappa Vajjal of the BJP and Siddu Bandi of the JD(S).

The business in betting may cross `1,000 crore, but the police say they are not able to crack down on gamblers because it happens in close-knit circles. “In cricket betting, we can track the gangs. But in elections, it happens through personal connections and within a group of friends. Also, building evidence in such cases is tough,” said a senior IPS officer, adding that he has not come across any arrests for betting on poll results in his career spanning more than 20 years.If at all one is caught, he will be booked for gambling or putting stakes in a game of chance, which are punishable offences.

BETTING ON:

Which party will get more seats
Who will win and who will be in 2nd and 3rd position in a constituency?
Winning margin
Number of seats the three major parties get
Who will be the Chief Minister

High risk, high profit
As most exit poll results suggest a hung assembly in the state, many have also taken the risk of betting high stakes for the party that will get a simple majority. Here ‘more the risk, more the profit’ attitude works. Players have gone to the extent of betting on 1:10 odds. Not limited to state polls results, the betting has also extended to which coalition government will come in case if there is hung assembly.